Yes, it could be viewed as big guns jumping off ship before the titanic hits iceburg
"just a thought, with a lot of substance"

& Yes, Obama's personal account is at JPM, why not JPM is basically the US Fed themselves.. they are also the one who manage the food stamp payment to 47million americans..

Its not the 2billion$ of JPM loss which is the issue, rather its the Over a Quadrillion Dollar derivative which is the problem, there's not enough money in the world to bailout such a disaster if/when it happens. Who else is having similar losses, & which one will report next, & how they will manage these gigantic losses.
Entire Golbal GDP is only give or take 60 odd trillion dollars.

Damn! Why you guys talk so heavy financial jargon? Derivatives, haiiiin?

YES, its a financial jargon (& the sooner you get familiar the better it is), it will help you understand the root cause of this financial mess the global economy is in..

Derivative mean in lay man's term "Bets"
Its the most opaque market in the world (even in the financial world not many people understand it completely). And its mostly over-the-counter (OTC), hence its unregulated. Its the derivatives which has made the problem lot worse.

There are bets on interest rates/etc/etc/etc/...
& there are bets on bets called as synthetic derivatives ..
& then, there are bets on bets on bets.. all too complicated even for regulators to prosecute

How do you think, in a 60trillion dollar global economy, this OTC derivative market has grown into a 1000 trillion dollar(or 1 quadrillion) in size. There's multiple layers of bets over bets over bets which make it so huge in size.
Someone has to absorb the loss as it unfolds, that's exactly why you see losses in the billions now (originating from interest rate change in the bond market).. Just wait & watch, these things are unfolding gradually... Even Warren Buffet has referred the derivatives as weapons of mass financial destruction ..

I have posted a link separately in another thread (please read it when you have time, & there are several hyperlinks explaining details)..
http://www.canadiandesi.com/read.php?TID=32785

Thanks for the clarification. However, I am aware, well-read, and well-versed about the jargon as well as the current economical and financial situation in Europe, NA, and the worldover.

Was just pointing out for people who are not so well versed in all this financial mumbo-jumbo.

I knew, rather I felt that way..
Here's a picture which explains
http://www.jsmineset.com/wp-content/uploads/2012/05/clip_image00212.jpg" border="0" alt="http://www.jsmineset.com/wp-content/uploads/2012/05/clip_image00212.jpg" />


& listen to this video link.. for more details.. http://www.youtube.com/watch?v=M3WEDsqUo7o&list=PL9AED97A740AC6FE7&feature=player_embedded#!

Now its believed the JPM losses could be in the range of 5billion..

http://www.businessinsider.com/wsj-jamie-dimon-jpmorgan-trade-losses-5-billion-2012-5

Jim Rickards on Europe's Bank Run and why JP Morgan was late to "Puke the Trade"
http://www.youtube.com/watch?v=SnSDjZVA4yU